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How can you foster creativity and innovation when making strategic decisions?

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Creativity and innovation are essential for executive managers who want to make strategic decisions that can help their organizations thrive in a complex and dynamic environment. However, fostering a culture of creativity and innovation is not easy, as it requires challenging assumptions, embracing uncertainty, and experimenting with new ideas. In this article, you will learn some practical tips on how to foster creativity and innovation when making strategic decisions, such as:

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Shiv Gupta

Chief Financial Officer I Strategic Business Partner I IPO Readiness I Go to Market Strategy I International Finance…
Fernando Del Vecchio

Decano del UISEK Business & Digital School en la Universidad Internacional SEK.

1 Use divergent and convergent thinking

Divergent thinking is the process of generating multiple and diverse ideas without judging or filtering them. Convergent thinking is the process of evaluating, selecting, and refining the best ideas for implementation. Both types of thinking are important for strategic decision-making, as they allow you to explore different possibilities and find the most effective solutions. To use divergent and convergent thinking, you can follow a simple four-step process: clarify the problem or goal, brainstorm ideas, prioritize and test ideas, and implement and review the results.

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Fernando Del Vecchio

Decano del UISEK Business & Digital School en la Universidad Internacional SEK.
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El pensamiento divergente me permite explorar múltiples soluciones posibles, fomentando la generación de ideas sin límites y la consideración de perspectivas variadas. Luego, empleo el pensamiento convergente para evaluar estas ideas, seleccionando las más viables y alineadas con los objetivos estratégicos de la organización. Esta combinación facilita un enfoque equilibrado que abraza la creatividad al idear soluciones, mientras asegura pragmatismo y factibilidad en su implementación, conduciendo a decisiones innovadoras y efectivas.

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Marcos Monterroso Godinho

CEO at Tikedo Spain | Global Executive | Managing Director | Board Member | International Expansion | Change & Transformation | Leadership | Industry | Retail | FMCG | Packaging
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Para fomentar la creatividad y la innovación en la toma de decisiones estratégicas, crea un entorno que valore y recompense el pensamiento fuera de lo convencional. Involucra a tu equipo en sesiones de lluvia de ideas, alentando la diversidad de opiniones y experiencias. Experimenta con técnicas como el pensamiento de dise?o para abordar problemas desde múltiples perspectivas. Fomenta una cultura que no tema al fracaso, viéndolo como una oportunidad para aprender y crecer. Implementa un proceso de feedback continuo donde todas las ideas sean consideradas y refinadas. Al mantener un enfoque abierto y colaborativo, puedes descubrir soluciones innovadoras que impulsarán el éxito estratégico.

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2 Encourage collaboration and feedback

Creativity and innovation are often the result of collaboration and feedback, as they enable you to leverage the diverse perspectives, skills, and experiences of your team members and stakeholders. Collaboration and feedback can also help you overcome biases, blind spots, and groupthink, which can hinder your strategic decision-making. To encourage collaboration and feedback, you can use tools and techniques such as: shared vision and values, clear roles and responsibilities, open communication and trust, constructive criticism and appreciation, and co-creation and prototyping.

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3 Learn from failures and successes

Creativity and innovation involve taking risks and experimenting with new ideas, which inevitably lead to failures and successes. Failures and successes are valuable sources of learning, as they provide you with feedback on what works and what doesn't, and how you can improve your strategic decision-making. To learn from failures and successes, you can use methods such as: after-action reviews, lessons learned, post-mortems, and retrospectives. These methods can help you identify the root causes, key insights, and actionable recommendations from your failures and successes.

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Shiv Gupta

Chief Financial Officer I Strategic Business Partner I IPO Readiness I Go to Market Strategy I International Finance Operations I CA, CPA (USA) & IIM Ahmedabad Alumnus | CXO Incubator 2024
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Learning from failures and successes is extremely crucial for the growth of an executive. As the saying mentions, dont ask anyone not to commit mistakes but ask them to not repeat the same mistake again. Something that has been really working for me in learning from failures is the following process: - To take a decision, avoid taking an ad-hoc decision. List down assumptions, actions and desired outcomes related to the decision being taken. - If the decision doesn't convert into desired results, do a reverse analysis from the outcome to action taken and assumptions to identify the reasons for variance. - Make necessary changes in assumptions and actions and retry to get the desired outcome - repeat the process till needed.

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4 Foster a growth mindset

A growth mindset is the belief that you can develop your abilities and talents through effort, learning, and feedback. A growth mindset can foster creativity and innovation, as it motivates you to seek new challenges, embrace feedback, and learn from failures. A growth mindset can also help you overcome the fear of failure, which can inhibit your strategic decision-making. To foster a growth mindset, you can adopt practices such as: setting SMART goals, seeking feedback and coaching, celebrating progress and effort, and reframing failures as opportunities.

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5 Seek inspiration from different sources

Creativity and innovation are often sparked by inspiration, which is the process of finding new connections, insights, and ideas from different sources. Inspiration can come from anywhere, such as: your customers, competitors, industry trends, best practices, research findings, personal experiences, hobbies, or interests. To seek inspiration from different sources, you can use strategies such as: customer interviews, surveys, or observations, competitor analysis or benchmarking, trend scanning or forecasting, literature review or case studies, or cross-pollination or analogies.

By applying these tips, you can foster creativity and innovation when making strategic decisions, and help your organization achieve its vision, mission, and goals.

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Fernando Del Vecchio

Decano del UISEK Business & Digital School en la Universidad Internacional SEK.
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Para fomentar la creatividad y la innovación en la toma de decisiones estratégicas, busco inspiración en una amplia gama de fuentes. Esto incluye explorar industrias distintas a la mía, estudiar casos de éxito y fracaso de diversas empresas, y estar atento a las tendencias globales y avances tecnológicos. También participo en foros y redes profesionales donde se comparten perspectivas variadas. Esta apertura a ideas y experiencias externas enriquece mi pensamiento estratégico, permitiéndome abordar desafíos desde ángulos novedosos y descubrir oportunidades de innovación que diferencian a mi organización en el mercado.

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6 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Mohammad Saqib Mehboob

GM Innovation | Strategy | Branding | Marketing | E-Commerce & Performance Marketing | Sustainability
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To foster creativity in strategic decisions, mix traditional methods with out-of-the-box thinking. Encourage diverse perspectives and risk-taking. Use brainstorming sessions to spark new ideas, and always question the status quo. Balance creative freedom with clear goals to turn wild ideas into viable strategies.

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How can you foster creativity and innovation when making strategic decisions?

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3

4

5

6

1 Use divergent and convergent thinking

2 Encourage collaboration and feedback

3 Learn from failures and successes

4 Foster a growth mindset

5 Seek inspiration from different sources

6 Here’s what else to consider

Executive Management

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How can you foster creativity and innovation when making strategic decisions?

1

2

3

4

5

6

1 Use divergent and convergent thinking

2 Encourage collaboration and feedback

3 Learn from failures and successes

4 Foster a growth mindset

5 Seek inspiration from different sources

6 Here’s what else to consider

Executive Management

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